Republican legislators said Wednesday that they fear future tax increases could be coming next year because of the state’s budget problems – despite pledges by Democratic Gov. Dannel P. Malloy to avoid tax increases.

Malloy reiterated his no-tax-increase pledge Wednesday when questioned by reporters about projected deficits up to $99 million in the current fiscal year and more than $1 billion in the next fiscal year that starts on July 1.

Despite the ongoing problems, Malloy predicted that the state will end the current fiscal year in the black.

“My prediction is we end this year with a surplus, not a deficit,’’ Malloy told reporters Wednesday. “We’re relatively early in the fiscal year, and again, we will not end in deficit. … We’re not intending to raise taxes.’’

When asked by a reporter if he would use the state’s Rainy Day Fund for fiscal emergencies in order to plug the budget hole, Malloy simply replied, “No. No.’’

Republicans, however, said they have ongoing concerns about the state’s fiscal health.

“I’m scared every day that there are going to be increases in taxes, fees, and regulations that are going to put a damper on the economy and the business community,’’ said Sen. L. Scott Frantz, a Greenwich Republican who serves as the ranking senator on the tax-writing committee. “Ultimately, the state of Connecticut will end up losing, rather than gaining, because they are alienating those who are the tax base.’’

“At the end of the day, that’s the direction they seem to be pointing,’’ Candelora said. “I fear, going into this legislative session, that it’s going to be more of the same.’’

Republicans also expressed alarm Wednesday that the longtime state treasurer, Denise L. Nappier, recently transferred $160 million from bond accounts into the state’s common cash pool in order to improve cash flow.

“These transfers are consistent with the state’s long-standing and sanctioned process for managing fluctuations in the flow of cash to and from separate funds,’’ Nappier wrote to Frantz and top Democratic fiscal leaders. “Since November 13th to date, such transfers total $160 million, and more such transfers over the next month are likely until revenues increase in late December.’’

Currently, the state has less cash on hand in mid-November than during more flush times. For example, state officials are anticipating millions of dollars in sales tax revenues to arrive by the end of the Christmas shopping season. In addition, income tax money comes in at a faster pace in February, March and April as the April 15 tax deadline approaches. The state currently has about $1.1 billion in cash available, according to Nappier.

Malloy said the problem was not unusual, adding that the state is currently in “a bit of a trough’’ that is based on the calendar.

“Revenues have ups and downs,’’ Malloy told reporters. “As is noted in the letter, we are in the process of working out about $200 million in payments from the federal government. … In the absence of those funds, I think the treasurer just wants to make sure she’s got enough money in the bank. … She wants to make sure there are no difficulties, and so she’s taking what she deems to be appropriate steps.’’